It has been widely reported that fraudsters are currently seeking to exploit the situation with COVID-19. Alarmingly, Action Fraud reported an increase in coronavirus related fraud by 400% in March. In this blog we outline some of the critical questions, which all charities, irrespective of size and stature, should be asking themselves to identify areas of risk and detect fraud and how to best respond if the charity has been a victim of fraud.
In the recent case of Sell Your Car With Us Limited v Sareen  EWHC 232 (Ch) the Insolvency Court were asked to determine whether the ultimate victim of an email hacking fraud, Mr Sareen, was liable in contract and/or tort to Sell Your Car With US Ltd (the “Company”) for causing the fraud by failing to take reasonable care over the security of his emails and/or take reasonable control over his email security.
February 2020 - Police say they have arrested more than 40 people in a crackdown on courier fraud involving over 3,000 victims. Police have reported that there has been a recent significant increase in these cases with total losses reported to the police of over £12 million. There are reports of individuals losing significant sums of money to these scams, such as a couple losing nearly £1million of their life savings and pensions and one victim losing £400,000.
From 31 March 2020, the UK’s six largest banking groups will start checking whether the name entered on a bank transfer matches the names of the recipient bank account. It is hoped the move will combat transfer scams and errors and make it less likely customers’ money ends up in the wrong hands.